Hundreds of Sears stores could soon close — here’s what might replace them

Mall owners are increasingly looking to attract gyms, off-price retailers, and grocery stores to the spaces left by dead department stores, according to a recent report by the commercial real-estate company JLL.

Sears is nearing bankruptcy ahead of a looming debt repayment deadline, and lenders are reportedly pushing the company to liquidate its business.

In the event of a liquidation, Sears could close all its remaining stores, which include about 500 Sears stores and 360 Kmart stores. Even if a liquidation is avoided, and the company instead files for Chapter 11 bankruptcy protection, it could still close hundreds of stores.

The closings could leave many of Sears’ roughly 90,000 employees without jobs and dump a glut of empty retail space onto the market.

In the past, retail landlords might look for new department-store tenants, such as Macy’s or JCPenney, to replace Sears.

But mall owners are increasingly looking to attract gyms, off-price retailers, and grocery stores to the spaces left by dead department stores, according to a recent report by the commercial real-estate company JLL.